A good tax advisor can save you a lot of money and can keep you out of difficulty. But to really do the best job for you he or she has to know what’s going on in your company. It can be a good practice to say every two to three months get your tax advisor together with you or even just do an email update or a phone call. Keep them abreast on how the company is doing and up-to-date on any new plans that might be taking place.

You might even consider keeping your tax advisor on the distribution list for your monthly or certainly at least quarterly reporting packages.

Even better is to give your advisor a periodic update on what you think the tax flow numbers will be for the upcoming quarter as well as any changes to the outlook for the year. Based upon that, your tax advisor can make any appropriate adjustments to your quarterly payment that you’re going to have coming up. He or she can advise you if you need to step it up or if you’re more than covered.

Too often tax advisors are brought in too late to do their best good. They can still make something happen if they are brought up to speed just before yearend in or right after yearend, but by that time they don’t have as much room to operate.

They are going to need you to get them up-to-date anyway, so you might as well get it done sooner when you can get more bang for the buck.